Schenectady Int'l affiliate buys Canadian company

An affiliate of Schenectady International Inc. has purchased a Toronto manufacturer of coatings and resins used in paint.

Schenectady Canada Ltd. did not disclose the amount that it paid for Chemirco Chemicals Inc., or the terms of the deal.

The purchase follows the sale earlier this year of Schenectady International's electrical coatings business, leaving Schenectady Canada with excess capacity. Schenectady Canada will now supply materials to Chemirco, which will continue to supply coatings and resins to its customers, which are primarily located in North America.

Founded in 1906, Schenectady International is a private company based in Schenectady with 2,400 employees worldwide, 400 of them at its two local plants.